Bondholders paid as judge allows trustee to tap debt-service reserve

Shields, Yvette
February 1999
Bond Buyer;02/02/99, Vol. 327 Issue 30570, p3
Trade Publication
Reports that a bankruptcy court judge in Saint Louis, Illinois has ordered the release of funds from a debt-service reserve account to ensure that payment due on bonds issued on behalf of Laclede Steel Co. was made on time. Uncertainty of whether the February 1, 1999 payment would be made; Bank of New York Co.'s interpretation of the judge's ruling.


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